Since previous GameStop CEO Matt Furlong was fired, the question has been on the minds of those following the company and GME stock as to who was going to replace him. Ryan Cohen was acting as Executive Chairman in the interim between CEOs, but it looks as though the decision has been made to simply give him the position. Ryan Cohen has officially been named the new GameStop CEO, and the company claims he will accept no compensation for the role, likely meaning no salary.
GameStop announced Ryan Cohen as its next CEO in a statement on the GameStop investor relations website on September 28, 2023. According to the statement, Cohen will begin work in the new role immediately:
Ryan Cohen moving into the CEO role follows on the back of the firing of previous CEO Matt Furlong earlier this year. Though Furlong was a personal pick of Cohen, it seems he didn’t deliver quite the way that the GameStop Chairman expected. Furlong was let go from the company in June 2023 and Ryan Cohen became Executive Chairman immediately following the decision. Many have looked to Cohen as the face of the GameStop company since its current boom from dire straits into a new era of life following the GME short squeeze of 2021 which gave the company breathing room to restructure and adjust its business.
Even so, it will remain to be seen if Ryan Cohen is able to take the CEO position and do what other GameStop CEOs couldn’t in guiding the company to profits. Stay tuned for more GameStop and GME news as we continue to follow these stories for updates.
TJ Denzer posted a new article, Ryan Cohen named as new GameStop (GME) CEO effective immediately
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